Mandatory automatic exchange of information in the field of taxation between EU countries by 2017

On 11 December 2013 European Parliament approved legislative initiative to oblige EU countries by 2017 to collect and automatically share data on income from employment, directors' fees, life insurance, pensions and property, as well as on other income, including that from dividends, capital gains and bank account balances.

This European Parliament’s proposal for a Council directive is advisory in nature.